Jeffrey Epstein and the shady world of modern capitalism

Jeffrey Epstein's appalling crimes tarnish those who knew him, says Gerard Baker in The Times. But the idea that these people were all drawn to him out of a desire to participate in anything depraved is misguided. Epstein enticed them not with his "harem of adolescent girls", but with the prospect of a "sumptuous Manhattan dinner with a big hedge fund guy"; lunch on a yacht with a renowned scholar; a movie premiere with a Saudi prince. There was "entertainment" of course – a helicopter ride over his ranch in New Mexico or a jaunt around his island on a jet ski. But most of these people can get that sort of thrill – and seedier ones if they want – anywhere. The real value was "the trade".

For those who wield a "controlling influence" over our economic and political architecture, there is always something to exchange: money, access, advice, information and above all connections. The chance for a word in the ear of someone who could make you even richer, even more powerful. A little inside info, a whiff of a deal, what hedgies call "alpha", can make generational fortunes. Much of this is legal, though unfair on those outside the network; some of it is probably illegal. We only know Peter Mandelson was sharing valuable information with a powerful financier because the latter's criminal depravity came to light. How many other exchanges take place daily that we'll never know about? The irony is that the populist revulsion at these mutually back-scratching elites has resulted in a US president who essentially acts like one. But as the network is exposed, "a real populist backlash is surely inevitable".

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Property

THE STONE HOUSE Tan y Coed II is nestled deep in a Shropshire valley, says The Guardian. On the ground floor are a modern kitchen, a dining room, a utility, a living room with a woodburner, and a garden room with floor-to-ceiling windows. Upstairs are the four bedrooms, one of which has a balcony, and two bathrooms. There's also a one-bedroom annexe with its own kitchen, sitting room and utility. The surrounding gardens have a terrace, a pond, a stream and more than a thousand daffodils. Shrewsbury is a 30-minute drive. £1.1m. Click on the image to see the listing.

Heroes and villains

"Please, we're just trying to get to Pizza Express." Hayley Atwell and Tom Cruise in Mission Impossible – Dead Reckoning Part One (2023)

Villain
Tom Cruise, who has reportedly moved out of his £35m Knightsbridge flat amid concerns about crime. Yes, says Giles Coren in The Times, the same Tom Cruise who famously does all his own stunts in the Mission: Impossible movies, from climbing the Burj Khalifa in Dubai to riding a motorbike off a cliff. Who would have thought that what finally caused this "fearless action hero" to wimp out was being told: "Your mission, should you choose to accept it, is to nip down the Brompton Road Waitrose for a pot of hummus…"

Hero
A teenager in Australia who swam for four hours in choppy waters and fading light to raise the alarm after a freak gust of wind swept his family out to sea on inflatable paddleboards and a kayak. Austin Applebee, 13, was tasked by his mum with kayaking back to shore to get help, but the vessel took on water so he had to swim the 2.5 miles to land. On reaching the beach, he sprinted another mile to the nearest phone and alerted the coastguard, then (understandably) passed out with exhaustion. Rescuers found his mum and two younger siblings clinging to the paddleboard about nine miles offshore.

Oh, Mandy

US Department of Justice

Unlike Peter Mandelson, we can't promise you the inside scoop from cabinet meetings. But when big news strikes, it's important to take in a range of views from a variety of sources. That's hard work, and who has the time? Well, we do. This week, we've told the story of the Mandelson affair using The Guardian, The Economist, The Spectator, The Times, the Telegraph and Substack. And those are just the ones we quoted.

We've also found space for plenty of snark about the execrable documentary Melania, and important (though currently overshadowed) pieces about Iran, China, Russia, Silicon Valley and the surprisingly durable "rules-based international order".

There's really nowhere else to get this range of stories and this breadth of sources. Especially for such a ludicrously reasonable price: just £40 for the whole first year.

Don't be like Mandelson – make a transaction you'll never regret.

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